Holding in Company

Carphone Warehouse Group PLC
2 October 2001

Immediate Release - 02.10.01

                 The Carphone Warehouse Group PLC ('Company')

                              Interest in Shares

The Company received notice on 1st October 2001 that on 26th September 2001
Morgan Stanley Securities Limited ('MSSL') acquired an interest in shares in
the Company that resulted in it holding a total of 36,220,072 shares, being
approximately 4.35% of the issued share capital of the Company.

MSSL have transferred from time to time 31,407,804 shares to a third party on
terms which gave it the right to require the return of an equivalent number of
shares. Accordingly, the interest in the 31,407,804 shares is pursuant to
Section 208(5) of the Companies Act 1985.

Further information:

Tim O'Gorman

Tristia Clarke                         0208 753 8753

www.carphonewarehouse.com